UPDATE 1-VW 9-month profit halves, misses consensus

Newswire

(Adds share price reaction, detail from statement)
FRANKFURT, Oct 29 (Reuters) - Europe's biggest carmaker, Volkswagen AG , said on Wednesday its operating profit fell 53 percent in the first nine months due to weak demand, a strong euro and the cost of revamping its Brazilian operations.
Operating profits fell to 1.73 billion euros ($2.03 billion) from 3.714 billion in the same period last year, falling slightly short of analysts' expectations.
The company also said it expected ...

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